Rattled by China, West scrambles to rejig critical minerals supply chains
China's trade restrictions on strategic minerals are starting to hit Western companies where it hurts.
Blaming Beijing's curbs on antimony exports announced in August, German chemicals and consumer goods heavyweight Henkel told customers last month it had declared force majeure and suspended deliveries of four types of adhesives and lubricants widely used by automakers, according to a Nov. 8 letter to clients reviewed by Reuters.
Henkel uses the silvery metal to make its Bonderite and Teroson-branded products, core parts of the company's adhesive technologies division, which brought in 10.79 billion euros ($11.4 billion) in revenue last year.
«We have been notified by our suppliers that the importation of these raw materials has been delayed pending the Chinese government accepting license applications,» according to the letter, which was signed by two senior executives.
“As a result, Henkel is hereby declaring force majeure in connection with its deliveries of these products,” the German company also said, adding it was unable to predict the duration of the situation
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